Turkey’s March industrial production rises 4.7% y/y

By bne IntelliNews May 8, 2015

On a calendar-adjusted basis, Turkey’s industrial production rose 4.7% y/y in March (market forecast: 0.9% y/y), after increasing 0.9% y/y in the previous month, data of the statistics office TUIK showed on May 8.

Durable consumer goods production was up 1.6% y/y, energy output rose 1.5% y/y, capital goods production increased 3.2% and manufacturing production showed a 2.5% y/y rise in the month.

Industrial production increased 2.2% m/m in March, following a 1.8% m/m rise recorded in February on a calendar and seasonally adjusted basis.

On an unadjusted basis, Turkey’s industrial production increased a robust 4.8% y/y in the month (market forecast: 2% y/y) after rising 0.9% y/y in February and contracting 2.2% y/y in January.

The central bank said in April that Q1 data pointed to a relatively weak outlook for economic activity. This slowdown was largely due to the weak external demand, volatility in financial markets and adverse weather conditions, said the bank, adding that economic activity is expected to grow gradually and moderately from the second quarter onwards, downside risks remain important.

Industrial Production by main Industrial Groups (March)    
(%) Calendar Adjusted Seasonally & Calendar Adjusted
  (y/y) (m/m)
Total Industry 4.7 2.2
Intermediate Goods -0.9 1.2
Durable Consumer Goods 3.6 1.6
Non-durable Consumer Goods 7.2 3.6
Energy 2.7 1.5
Capital Goods 15.9 3.2
Source: tuik

Related Articles

Turkish lira’s chronic weakness credit negative for Turkey’s sovereign rating says Moody’s

The chronic weakness of the Turkish lira (TRY) is credit negative for Turkey’s sovereign debt rating and poses ... more

S&P raises Poland’s outlook to positive on rosy prospects of economy in 2018

Standard and Poor’s raised its outlook for Poland from stable to positive on April 13, while maintaining the country’s rating at BBB+.  The raising of the outlook is based on ... more

Iran 'readying move to switch all foreign transactions from dollars to euros'

Central Bank of Iran (CBI) governor Valiollah Seif has said the cabinet is planning to push ahead with proposals to replace the dollar with the euro for all transactions conducted with foreign ... more

Dismiss